Camden Property Trust (NYSE:CPT) had its target price hoisted by BTIG Research to $93.00 in a research report sent to investors on Thursday, March 15th, The Fly reports. The firm currently has a buy rating on the real estate investment trust’s stock.
Several other equities research analysts also recently issued reports on CPT. BMO Capital Markets reiterated a buy rating and issued a $97.00 target price on shares of Camden Property Trust in a research note on Monday, November 27th. JPMorgan Chase & Co. upgraded shares of Camden Property Trust from a neutral rating to an overweight rating and set a $100.00 target price for the company in a research note on Friday, December 15th. Robert W. Baird restated a hold rating and set a $93.00 price objective on shares of Camden Property Trust in a research report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Camden Property Trust from a hold rating to a sell rating in a research report on Wednesday, January 10th. Finally, TheStreet downgraded shares of Camden Property Trust from a b rating to a c+ rating in a research report on Thursday, January 18th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Camden Property Trust presently has a consensus rating of Buy and a consensus price target of $90.64.
CPT stock opened at $82.99 on Thursday. The firm has a market capitalization of $7,771.85, a PE ratio of 18.50, a PEG ratio of 2.90 and a beta of 0.41. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.63. Camden Property Trust has a 1-year low of $78.19 and a 1-year high of $96.39.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.18 by ($0.27). Camden Property Trust had a net margin of 21.80% and a return on equity of 6.01%. The company had revenue of $229.80 million during the quarter, compared to the consensus estimate of $228.99 million. During the same quarter in the previous year, the business earned $1.15 EPS. Camden Property Trust’s revenue was up 5.8% on a year-over-year basis. sell-side analysts expect that Camden Property Trust will post 4.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Friday, March 30th will be issued a $0.77 dividend. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, March 28th. This represents a $3.08 annualized dividend and a yield of 3.71%. Camden Property Trust’s payout ratio is presently 142.86%.
In related news, EVP William W. Sengelmann sold 4,478 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $88.42, for a total value of $395,944.76. Following the transaction, the executive vice president now owns 66,567 shares in the company, valued at $5,885,854.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kelvin R. Westbrook sold 425 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $88.42, for a total transaction of $37,578.50. Following the transaction, the director now owns 20,477 shares in the company, valued at approximately $1,810,576.34. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CPT. Victory Capital Management Inc. increased its position in shares of Camden Property Trust by 285.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,386 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 1,026 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of Camden Property Trust during the fourth quarter worth about $202,000. Global X Management Co. LLC increased its position in shares of Camden Property Trust by 45.3% during the fourth quarter. Global X Management Co. LLC now owns 2,309 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 720 shares in the last quarter. Creative Planning bought a new stake in shares of Camden Property Trust during the fourth quarter worth about $308,000. Finally, Timber Hill LLC bought a new stake in shares of Camden Property Trust during the third quarter worth about $322,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.
Camden Property Trust Company Profile
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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